Policy Address

Mobilise Capital for AI Investment

70. Hong Kong has developed full-fledged financing channels covering angel investment, venture capital, private equity funds, patient capital and initial public offerings (IPOs), effectively linking capital and quality projects around the world. The Hong Kong Investment Corporation Limited (HKIC), as the "patient capital" institution wholly owned by the Government, has invested in a number of AI enterprises engaging businesses in fields such as AI Large Language Model, cloud computing and AI drug development. It will continue to support the development of the AI industry through investments.

Strengthen Advantages in Data for AI

71. Hong Kong will further capitalise on the advantages under "One Country, Two Systems", and promote the early establishment of a compliant and secure mechanism for cross-boundary flow of Mainland data to Hong Kong Park for scientific research purposes, supporting AI application testing and innovation.

72. With the establishment of Cyberport's AI Supercomputing Centre and the Government's launch of the AI Subsidy Scheme, we will put up for tender a site of about 10 hectares at Sandy Ridge in the North District this year for the development of a data facility cluster. It will provide advanced computing power facilities, promoting the development of data and AI-related industries.